Formerly known as Coda Protocol, Mina is a minimal, succinct blockchain with a size of only 22KB, designed to never change in size no matter the usage growth and to run DApps more efficiently. The latter is achieved by limiting computational requirements. To keep its size small and minimise the weight of the transactions on the blockchain, Mina employs zk-SNARK (Zero Knowledge Succinct Non-Interactive Argument of Knowledge) proof of the transactions processed on the blockchain. SNARK producers create zk-SNARK proof from the blocks made by block producers, which are added in the blockchain’s marketplace, Snarketplace. Block producers must purchase compressed proof of the transactions (zk-SNARK proofs) made by SNARK workers before they can sell on the marketplace. This way, every time something is added, something else is taken away from the Snarketplace, allowing Mina to keep a small and fixed size. The native token and currency of the Mina blockchain is MINA. MINA is needed for both block production and is also required for buying SNARK proof.
Mina market stats
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